EURGBP had a strong bullish move on the H4 chart. The chart then produced a double top and made a breakout at the neckline. The pair produced an engulfing daily candle yesterday. Thus, it might be time for the sellers to look for selling opportunities. Let us have a look at the H4 EURGBP chart. This is another trade idea generated by the Elite Swing Trader.

The chart shows that the neckline of the double top got breached by a very commanding H4 bearish candle. The price came down up to the level of 0.90885 and started having a consolidation. The level of 0.91210 seems to be the resistance level of the consolidation. If the level is held as a resistance level and we get an H4 breakout at the level of 0.90885, the price may head towards the level of 0.90375 with good bearish momentum. Let us have a look at the summary of the trade

• Sell Stop Order: 0.90879
• Stop Loss: 0.91232
• Take Profit: 0.90396

This is the first day of August. The last month was very bullish with EURGBP. Thus, when the pair is bearish on a particular chart such as the H4 or the H1 chart, it might get a bit sluggish to hit the target. As long as we get a momentum breakout, technically we are allowed to take an entry according to that trading chart. We may have to keep our patience to let a trade hit the target. We must not forget that patience is the key to do well in trading. Click Here to learn more about Elite Swing Trader

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With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take. This is a time tested Ever Green Swing trading system. Learn more here...